PDT Partners LLC Boosts Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

PDT Partners LLC grew its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 19.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,636 shares of the company’s stock after acquiring an additional 14,371 shares during the quarter. PDT Partners LLC’s holdings in Arcus Biosciences were worth $1,340,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RCUS. Innealta Capital LLC acquired a new position in Arcus Biosciences during the second quarter worth approximately $66,000. Point72 DIFC Ltd purchased a new stake in shares of Arcus Biosciences during the 2nd quarter valued at $83,000. Quest Partners LLC increased its holdings in shares of Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after buying an additional 9,408 shares during the last quarter. Diversified Trust Co raised its position in shares of Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after buying an additional 1,467 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Arcus Biosciences in the third quarter valued at $244,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $15.44 on Monday. The firm has a fifty day simple moving average of $16.24 and a 200-day simple moving average of $16.03. The company has a market capitalization of $1.41 billion, a PE ratio of -4.90 and a beta of 0.89. Arcus Biosciences, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period last year, the firm earned ($0.94) earnings per share. The company’s revenue was up 50.0% on a year-over-year basis. Equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on RCUS shares. Barclays upped their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. HC Wainwright reiterated a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.00.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.